Bitcoin. Scenario 2: very slow and very painful.Changed my mind again. We were all wrong. It's worse.
Oh boy.
Hi, biggest FUD spreader and magical internet coin non believer here.
Someone one day had an idea "Hey remember all the problems we had 150 years ago and we don't need?
I had a great idea! Let's bring them back. What if I took several financial instruments and took the worse of each?
A coin that allows the rich to get richer, the poor to get poorer, pollutes the planet, has tons of issues, great idea right?"
So... looking at price action now (which is #1 most important thing I'd say RSI comes second then fibo actually then #4 is trendlines #5 is charting wedges etc then hmmm idk the rest can be ignored it's just bonus).
This doesn't look very good. We're following the same pattern with double top then back to normal, but it takes way longer, and we fall more & bounce less.
I don't guarentee BTC will stay above $1000 in the future.
BTC is looking weaker than 2014 and people are now all convinced it can't go down, they're too afraid to look stupid or something.
Looking at news from 2011 to 2016 they were full of "Bitcoin will fail" and now can't find a single one like this it's all "this is the future".
The public joined in massively, I can't stop hearing about crypto every where, I get harassed with ads no matter my ip & no matter
what device I'm on. And they think they're the early adopters rofl. Never has that many people been investing...
So all this dumb money is holding their virtual useless worthless "coins" like their life depends on it, I guess it's all the adopters from 2011 to early 2017 that are still in the green. Idk maybe at some point we can cascade down..? But could be a really long long while until that happens.
The bulls have one hope thought: if the baghodlers lose their mind since it's so slow and painful and kill themselves the price can't fall as much since they can't sell when they're dead. But it won't go up either.
Zooming in to compare the start of the bear market:
This isn't a call to trade (a trade that would last 2 years lmao), just my outlook on the not so bright future of Bitcoin.
Maybe we're lucky and alts just start living on their own. Idk thought...
I just wanted to bring back the Pantheon avatar and make moon calls but the delusional baggies won't let me :'(
I'm going to focus on other markets anyway if this takes years.
This is all going to end so badly...
